Betsson Group has decided to consolidate its UK business to focus on growing one single brand (Rizk). This initiative will increase efficiency and have a positive impact on the contribution from its UK business.
The Group has to date operated with nine brands, on three different platforms, and under four licences in the UK market. The other eight brands will be retained in the Group’s portfolio for use in other markets and, therefore, there will be no need for write-down of goodwill or trademark.
The UK regulatory framework has undergone significant changes in the past few years, requiring extensive investments both in technology, regulatory compliance as well as marketing, which is not sustainable with the Group’s current UK setup. Three of the Group’s four licences will, therefore, be handed back to the UK Gambling Commission with immediate effect.
The eight UK-facing brands under the returned licences will be closed with no further deposits or bets accepted. The customers of these brands will be contacted accordingly, all deposits will be repaid, and all outstanding bets will be paid out as winning bets.